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In November, New York State’s online sports betting revenue hit a record-breaking $231.6 million. This noteworthy accomplishment coincides with a $2.27 billion monthly sports betting transaction.
With figures that speak for themselves about the expansion of the sports betting business, the Empire State is currently at the top of the charts. This record-breaking performance was a result of significant spikes in activity reported by numerous betting sites in New York, many of which provide users with great bonuses and access to bet on many different sporting events. The impressive November numbers show that New Yorkers have a strong desire to bet on sports.
Compared to the previous high of $211.5 million achieved in January 2024, this new record represents a 9.5% increase. The revenue indicates an even more spectacular 53.5% increase than in November of the previous year. A 31.4% increase from October 2024 is also shown in the month-to-month comparison, but analysts point out that Thanksgiving NFL games usually increase November statistics nationwide.
The handle of $2.27 billion is slightly short of the state record set in October 2024 at $2.31 billion, even though it represents a 7.6% rise over November 2023. The holding proportion increased from 7.60% in October to 10.22% in November.
FanDuel took the crown from DraftKings in November, generating $102.6 million in revenue from a $921.2 million handle, resulting in an 11.14% hold. DraftKings followed with $77.1 million in revenue from a $745.4 million handle and a 10.35% hold.
BetMGM secured the third position with $14.4 million in revenue and an 8.59% hold from its $167.7 million handle. Caesars Sportsbook came in fourth place with $14.2 million in revenue and an 8.99% hold from a $158.1 million handle. Fanatics rounded out the top five with $13.8 million in revenue and an 8.11% hold from a $170.2 million handle.
ESPN Bet, one of the newest additions to New York’s mobile sportsbook market, posted its best month to date with a $47.6 million handle and $4.3 million in revenue at a 9.03% hold. Despite these strong numbers, ESPN Bet ranked sixth overall among the state’s sportsbooks.
The data from November clearly shows that New York’s sports betting sector is flourishing. The sector has had significant growth and is currently reaching new heights since the state allowed mobile sports betting in January 2022.
The record-breaking November result demonstrates the sports betting market’s ongoing upward trend in New York. This outstanding accomplishment highlights Empire State’s supremacy as a key participant in the online sports betting market.
Looking at the bigger picture, these impressive figures from six months ago established a benchmark that other states still aim to match. New York maintains its status as one of the most lucrative markets for sports betting operators in the country, with operators watching closely to see if the upward trend continues through 2025.
